European Central Bank President Lagarde was speaking with Italian media on Sunday.

  • "There is an obvious concern about the economic recovery [of the euro zone] in 2022, but I believe we have learnt a lot. We now know our enemy and what measures to take. We are all better equipped to respond to a risk of a fifth wave or the Omicron variant"
  • "The crisis taught us this virus knows no boundaries. Therefore we will not be protected until we are all vaccinated"

I posted Lagarde's headline remark earlier, adding in some extra via Reuters filling in a little more now.

How much protection vaccination offers against the worst effects of the new variant will become clearer in coming days and weeks. The various vaccines have been effective in reducing the severity of Delta variant infections so I'm gonna go out on a limb and say the same will happen with this Omicron variant. But, hey, I'm no doc so make up your own mind (and BTD while you do ;-) )

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